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Post by The Goose on May 26, 2009 15:40:45 GMT -5
I see oil climbing a bit more. Normally oil goes up at this time of the year but it just got hammered too much because people though we were going to be headed into a depression instead of a recession. I see oil headed back down around the second half of this year after it goes higher from here. Maybe in the middle or end of June, it should reach it's peak.
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Post by The Goose on Jul 8, 2009 11:39:27 GMT -5
WOW! Perfectly called. Oil peaked at the middle of June and held until the end of June. Now we see it sliding.
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Post by The Goose on Jul 8, 2009 11:42:36 GMT -5
If you have been shorting oil since the $70s then you should take a small amount off the table today. Oil is now near $60. If it goes lower, cover more of your shorts. Oil SHOULD be in the $40-$50 at most in this economy. But as we all know people love to manipulate it.
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Post by The Goose on Jul 30, 2009 14:48:47 GMT -5
OK. Looks like the economy is starting to hit bottom. Time to reverse course on oil. I'm a buyer if it goes into the low $60s/barrel. Cover all your shorts in the low to mid $60s. Summer time is over but I don't see it dropping into the $50s anymore. Economy is a bit better. China is still using up lots of resources. Their stimulus plan was better than ours. I say fair value right now is where it is, the $60s. If the economy picks up in the second half of this year, we could see oil in the upper $70s or lower $80s.
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Post by The Goose on Sept 9, 2009 7:25:52 GMT -5
I was right about it coming back down into the $60s but did not fall as much as I thought. Bounced off of $68. That is a good place to start putting your money in.
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Post by The Goose on Jan 4, 2010 10:40:17 GMT -5
Keep buying. Nice hedge on inflation along with gold.
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Post by The Goose on Nov 9, 2010 16:53:17 GMT -5
Heard on the radio that someone claimed oil could go to $200 a barrel!! Now THAT'S some speculation. If it goes that high then it all BS. No way the demand for oil is going to be as strong as it was back in 2006-2007. At least not in the near term with all this unemployment in the US.
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